Johan Sverdrup concept selection in early 2014

This article originates from the news archive of Det norske.

20. December 2013

Det norske oljeselskap ASA, together with the pre-unit operator Statoil and the other field partners, continue to optimize the development concept for Johan Sverdrup. A final decision on concept selection will be taken in early 2014.

At the same time, the partnership is working on awarding a FEED (Front End Engineering and Design) contract as soon as possible in order to ensure continued progress for the project.

Core sample from the discovery well at “Aldous” in 2011. Photo Anette Westgard, Statoil.

The plan is to submit a Plan for Development and Operations (PDO) that can be approved by the Norwegian Parliament in the first half 2015, with first production in late 2019.

Pre-unit operator Statoil has estimated full field gross contingent resources in the range of 1,800 to 2,900 million barrels of oil equivalents.

Det norske’s understanding of the pre-unit operator’s latest capex estimates indicates total investments in the range of NOK 100 to 130 billion for the first phase of the field development, including contingencies and estimated future price escalation. This is an early estimate, with uncertainties and an estimate that could be affected by the final concept decision, expected in early 2014.